What
Is The Gift Basket Business?
Gift Baskets are a multi-million dollar industry. You can sell gift
baskets for all different occasions and themes. Gift Baskets can be sold
to individuals, to businesses and for fundraisers, to name just a few
ideas.
They are a gift with that personal touch that people are willing to
pay a little extra for.
Creating gift baskets for customers looking for that 'perfect gift'
is one of the fastest growing types of businesses in North America.
You can be as creative as your desire; the more creative you are, the
more you will tend to prosper.
Gift Baskets are a gift option available that personalizes any
occasion for anyone. Gift baskets have become the 'problem solver'
regarding gift giving in businesses for people who are sick, being
promoted, or employees who have reached a milestone in their career.
They could well be the closest thing to the perfect gift because they
can be totally customized to suit the giver, the recipient, the occasion
and the desired price. For some people, creating them is the perfect
business: an opportunity to be artistic, creative and entrepreneurial.
Certainly it's an industry with incredible "fun" potential. You get
to buy lots of cute, clever gift items; you get to pull those items
together in an attractive container and create a charming presentation;
and you get to provide a product that delivers infinite pleasure to the
recipient.
Both givers and receivers of gift baskets appreciate the creativity
and uniqueness of the concept.
There's also a respectable profit potential. As popular as they
are, the market for gift baskets is still wide open and the sales
opportunities are virtually limitless.
But this isn't a game; it's a serious business. It doesn't require a
great deal of startup capital many successful gift basket businesses
were started with just a few hundred dollars.
What it does require is thoughtful planning, preparation and
commitment fueled by a strong dose of excitement and enthusiasm.
Start Up Costs Varies Greatly
As with any new business, you will have to make a number of decisions.
What types of baskets will you offer? If you are working from home do
you have enough space for creating your baskets?
What is your target market? And most of all, how will you reach them? If
you plan to start on a shoestring budget, start slow and work from home.
running your business from home will allow you to save on overhead
expenses.
As for myself, I started small, maybe $2,000. I needed to buy
inventory to make baskets: containers, fill, cell, ribbon, products to
go in the baskets. Had to buy office stuff: paper, printer, labels,
business cards.
Earning potential $1,000,000 is not unheard of in the Gift Basket
business, but as you might think - it takes a lot of work.
Skills that are required include: Creativity, design, marketing. Also,
you have to be able to sell yourself and your product. Business skills
are important. If you don't have them, get them.
Your income potential depends on how hard you work and market your
business. Earning potential $1,000,000 is not unheard of in the Gift
Basket business, but as you might think - that takes a lot of work!
A Couple Of Tips
Don't be shy (like me,) tell everyone who will listen to you about
your new venture. Don't bore them to tears with the details; keep it
short & to the point. Your answer to "Hi, how are you?" is "I started my
own gift basket business, here's my card. If you need anything, call
me!" If they want to know more they'll ask.
Think of the gifts in terms of what you would like to receive. What
would you rather have, a large extravagant basket with only a few
products in it or an inexpensive basket overflowing with beautiful
products?
A little creativity and a lot of hard work greatly increase the
success of your new home business.
As To Your Gift Baskets
You can either offer a wide selection of gift baskets, or focus on a
smaller market. Some of the common gift baskets being offered include:
Gourmet/Food Gift Baskets. These are the most popular gift baskets
businesses give to their clients, friends and family.
Bath And Body Gift Baskets. These are very popular! Ingredients of
these baskets include toiletries like scented soaps, fragrances, oils,
lotions, and aromatherapy products. These are just a few selections of
gift baskets offered, the list goes on.
As For Inventory
Your inventory level should always grow as your sales grow. Start small,
keeping inventory at a realistic level. You can purchase inventory for
your gift baskets either wholesale or retail. I would advise buying at
wholesale price, because you may buy in quantities.
Learning by making mistakes can help you make your business grow.
Start slow and invest your time into research The more you know
beforehand, the better equipped you will be when facing your own
challenges and obstacles.
An Overview
In order to begin a profitable venture in the gift basket business
you must be well prepared. If the business is to be, at least initially,
home-based, several basic steps need to be taken.
(A) Find the appropriate inventory at affordable prices.
(B) Create gift baskets that are not only marketable, but more pleasing
and affordable than those of the competition.
(C) Develop an efficient system of delivery as well as selling retail
for customer pickup.
(D) Price your gift baskets for the highest profit.
(E) Promote the business at a minimal expense.
These initial steps are not all that difficult. They will require
time, a small monetary investment, and even a little experimentation.
Once you develop a system for making gift baskets, you can begin to be
more creative, making specialized "theme" baskets filled with exotic
treats that will increase demand by your market.
It's a good idea to test your ability to create marketable gift baskets
before you get into the business. You can do this by purchasing some
baskets and basic materials such as gourmet foods, fragrant soaps,
colorful ribbons, exotic teas or baby-care items for a "new baby"
basket.
Operating a home-based gift basket service can be a highly rewarding
venture. By following several key steps, an enterprising individual can
turn creativity into profit.
Lillie Louise
( Lillie Louise is the Gift Basket author of the step-by-step guide
"Start
Your Own Highly Profitable Gift Basket Business" a how-to course
that could change your life.)
Remember, your future is up to
you, 
